IES (NASDAQ:IESC) Hits New 52-Week High – Still a Buy?

IES Holdings, Inc. (NASDAQ:IESC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $611.21 and last traded at $592.9650, with a volume of 261863 shares trading hands. The stock had previously closed at $599.80.

Analyst Ratings Changes

IESC has been the subject of several research reports. Wall Street Zen downgraded shares of IES from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Loop Capital set a $458.00 target price on IES in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $458.00.

IES Trading Down 1.0%

The business has a 50-day moving average price of $498.18 and a 200 day moving average price of $447.28. The stock has a market capitalization of $11.98 billion, a P/E ratio of 35.75 and a beta of 1.67.

IES (NASDAQ:IESC) last announced its quarterly earnings results on Friday, January 30th. The technology company reported $3.71 earnings per share for the quarter, missing the consensus estimate of $3.94 by ($0.23). IES had a return on equity of 35.62% and a net margin of 9.70%.The business had revenue of $870.96 million during the quarter, compared to the consensus estimate of $876.00 million.

Insider Transactions at IES

In other news, Chairman Jeffrey L. Et Al Gendell sold 320 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $520.43, for a total transaction of $166,537.60. Following the sale, the chairman directly owned 10,587,161 shares in the company, valued at approximately $5,509,876,199.23. This represents a 0.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Todd M. Cleveland sold 1,425 shares of IES stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $500.84, for a total value of $713,697.00. Following the completion of the transaction, the director owned 78,089 shares of the company’s stock, valued at approximately $39,110,094.76. This represents a 1.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 20,659 shares of company stock worth $10,636,940 in the last three months. Insiders own 56.43% of the company’s stock.

Hedge Funds Weigh In On IES

A number of institutional investors and hedge funds have recently modified their holdings of IESC. Blue Trust Inc. increased its position in shares of IES by 7.5% during the 4th quarter. Blue Trust Inc. now owns 400 shares of the technology company’s stock valued at $156,000 after purchasing an additional 28 shares during the last quarter. GAMMA Investing LLC lifted its position in IES by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 244 shares of the technology company’s stock worth $95,000 after buying an additional 31 shares during the last quarter. KPP Advisory Services LLC boosted its stake in IES by 5.3% during the first quarter. KPP Advisory Services LLC now owns 699 shares of the technology company’s stock worth $333,000 after buying an additional 35 shares during the period. Comerica Bank increased its position in IES by 11.8% during the fourth quarter. Comerica Bank now owns 418 shares of the technology company’s stock valued at $162,000 after acquiring an additional 44 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in IES by 59.0% during the fourth quarter. Global Retirement Partners LLC now owns 124 shares of the technology company’s stock valued at $48,000 after acquiring an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 86.60% of the company’s stock.

IES Company Profile

IES Holdings, Inc (NASDAQ: IESC) is a specialty contractor providing integrated electrical and mechanical construction services, engineering, and systems integration across North America. The company focuses on delivering end-to-end solutions for commercial, industrial and mission-critical facilities, combining design, build, commission and maintenance capabilities to serve a wide range of markets.

Through its subsidiaries, IES offers a comprehensive portfolio of services including electrical distribution and infrastructure, mechanical contracting, process piping, controls and automation, energy management, and ongoing service and maintenance.